The Energy Report
U.S. import prices jumped in December as energy costs surged, a sign that while inflation may be tame domestically there are plenty of price pressures coming from overseas.
Import prices rose 1.1%, just beneath economists' forecasts in a Reuters poll, following a revised 1.5% increase in November. Prices were up 4.8% for 2010 as a whole, according to the Labor Department data released on Wednesday.
Petroleum import prices climbed 3.9%, while non-petroleum costs rose just 0.4%.
Export prices advanced 0.7% after a 1.5% gain in November. They were up 6.5% in 2010, the highest in records dating back to 1983, and nearly double the rise seen in 2009.
A low-inflation environment in the United States has allowed the Federal Reserve to maintain a very loose monetary policy, but a recent spike in global energy and commodity prices has raised some concern that cost pressures might pick up.
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"EFR signed a letter of intent to acquire Strathmore Minerals." (6/13/13) Energy Fuels Inc. - The Energy Report Interview with Chris Berry More >
"EUU has a high-grade resource and an ideal location." (6/13/13) European Uranium Resources Ltd. - The Energy Report Interview with Chris Berry More >
"The location of STM's deposits and its relationships with Sumitomo and KEPCO make it an ideal take-out candidate." (6/13/13) Strathmore Minerals Corp. - The Energy Report Interview with Chris Berry More >
"I am looking at global integrated players such as RDS; it is big and pays nice dividends." (6/11/13) Royal Dutch Shell Plc - The Energy Report Interview with Byron King More >
U.S. Import Prices Jump as Energy Costs Surge
Source: MSNBC (1/12/11)
"Inflation may be tame domestically, but overseas price pressures loom."
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